Australian Chris McNamee has been appointed as Executive Chairman of DAMCO Aluminium Delfzijl Coöperation U.A., better known as Aldel. McNamee joins Aldel from York Capital, the investment company that bought the Delfzijl-based aluminium factory in October 2017.
McNamee succeeds Karsten Pronk, who in recent years led the factory through some difficult times, including a couple of bankruptcies, The change in management has been approved by the trade unions and the works council. The factory’s employees were informed on monday morning.
York Capital is planning to invest millions in Aldel in the coming years. The US-based investment company preferred to continue these investments with own specialized management people, along with the current management team of Aldel.
From the beginning of 2018 York Capital started a large scale investment program to scale up Aldel’s production to maximum capacity. As a result of this, the employment at the factory will increase from the current 175 FTE to about 250 FTE at the end of 2018.